Asbury Automotive Group, Inc. (NYSE:ABG) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 4.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,765 shares of the company’s stock after purchasing an additional 7,754 shares during the quarter. Bank of New York Mellon Corp owned 0.98% of Asbury Automotive Group worth $45,065,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ABG. Atlantic Edge Private Wealth Management LLC acquired a new stake in Asbury Automotive Group in the fourth quarter valued at $28,000. AXS Investments LLC acquired a new stake in Asbury Automotive Group in the fourth quarter valued at $38,000. GAMMA Investing LLC lifted its holdings in Asbury Automotive Group by 100.0% in the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after acquiring an additional 146 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Asbury Automotive Group in the fourth quarter valued at $162,000. Finally, BTC Capital Management Inc. acquired a new stake in Asbury Automotive Group in the first quarter valued at $238,000.

Asbury Automotive Group Trading Up 1.4 %

NYSE:ABG opened at $245.64 on Monday. The company has a market capitalization of $4.91 billion, a PE ratio of 8.95 and a beta of 1.16. The company has a quick ratio of 0.45, a current ratio of 1.25 and a debt-to-equity ratio of 1.05. Asbury Automotive Group, Inc. has a 52-week low of $178.40 and a 52-week high of $277.13. The stock has a fifty day simple moving average of $237.95 and a 200-day simple moving average of $228.18.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Friday, August 2nd. The company reported $6.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.31 by ($0.91). The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the firm earned $8.95 EPS. On average, equities research analysts expect that Asbury Automotive Group, Inc. will post 27.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABG. StockNews.com downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, August 12th. JPMorgan Chase & Co. downgraded Asbury Automotive Group from an “overweight” rating to a “neutral” rating and set a $230.00 target price for the company. in a report on Monday, June 10th. Finally, Morgan Stanley lifted their price target on Asbury Automotive Group from $185.00 to $190.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 14th.

Insider Activity at Asbury Automotive Group

In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the transaction, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the transaction, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David W. Hult sold 500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction of $113,590.00. Following the completion of the transaction, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at approximately $12,911,548.12. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Asbury Automotive Group Profile

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.